Get Your Sax Together Limited Filleted accounts for Companies House (small and micro)

GET YOUR SAX TOGETHER LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 14150455

Get Your Sax Together Limited

Filleted Unaudited Financial Statements

31 December 2023

Get Your Sax Together Limited

Statement of Financial Position

31 December 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	5		5,566		3,095

Current assets

Debtors	6	2,306	60,717
Cash at bank and in hand		69,306	19,019
		--------	--------
		71,612	79,736

Creditors: amounts falling due within one year	7	40,312		24,189
		--------		--------
Net current assets			31,300		55,547
			--------		--------
Total assets less current liabilities			36,866		58,642
			--------		--------
Net assets			36,866		58,642
			--------		--------

Capital and reserves

Called up share capital	8	2	2
Profit and loss account		36,864	58,640
		--------	--------
Shareholders funds		36,866	58,642
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Get Your Sax Together Limited

Statement of Financial Position (continued)

31 December 2023

These financial statements were approved by the board of directors and authorised for issue on 12 May 2024 , and are signed on behalf of the board by:

Mr J Anderson

Director

Company registration number: 14150455

Get Your Sax Together Limited

Notes to the Financial Statements

Year ended 31 December 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, CM2 0AW, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2023	–	3,379	3,379
Additions	–	170	170
Disposals	3,376	–	3,376
	-------	-------	-------
At 31 December 2023	3,376	3,549	6,925
	-------	-------	-------
Depreciation
At 1 January 2023	–	284	284
Charge for the year	394	681	1,075
	-------	-------	-------
At 31 December 2023	394	965	1,359
	-------	-------	-------
Carrying amount
At 31 December 2023	2,982	2,584	5,566
	-------	-------	-------
At 31 December 2022	–	3,095	3,095
	-------	-------	-------

6. Debtors

	2023	2022
	£	£
Trade debtors	1,491	–
Other debtors	815	60,717
	-------	--------
	2,306	60,717
	-------	--------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	2,260	1,100
Corporation tax	27,266	15,411
Social security and other taxes	9,269	7,678
Director loan accounts	1,517	–
	--------	--------
	40,312	24,189
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

9. Related party transactions

At the year end the company owed the director £1,517 (2022: owed the company £53,282) which is shown amongst creditors.